Posted by: Jack | February 3, 2008

I Thought Competition Was Supposed to Lower Prices

Isn’t that the whole idea? In a competitive market, buyers will most often support the product with the highest value/$. Pretty sure I learned this in high school economics. Also learned back then that labor is a product. If two people are equally skilled and pursuing the same job, the one that demands a lower wage should typically be hired.  This all seems to make sense.

So why do politicians get paid so much when the job market is so small and there are always literal competitions to land each position? I mean, if the U.S. offered a salary of $1 for the position of president, I’m pretty sure people would still want the job.

And come to think of it, regarding truly powerful positions such as that of the president, why aren’t there laws in place that prevent the individual from acquiring any form of income during his service? Certainly the president should be provided with a comfortable living situation and all the basic necessities. But if the leader of our country was unable to benefit personally from any decision he should make, it would have to lead to a higher level of objectivity, wouldn’t it? Are there people/powers out there that prefer a leader who puts his own interests first?

I don’t claim to know the first thing about politics or economics — well I suppose I did just claim to know the first few things about economics, but you know what I mean — but there are plenty of people out there who do. Why aren’t the most intelligent people given the power, rather than those who can please an audience?

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